Mon11202017

LAST_UPDATEMon, 20 Nov 2017 7pm

TRX City Teams Up With MRT Corp, SMART To Develop TRX

KUALA LUMPUR -- TRX City Sdn Bhd is teaming up with Mass Rapid Transit Corp Sdn Bhd (MRT Corp) and Stormwater Management and Road Tunnel Sdn Bhd (SMART) to develop the Tun Razak Exchange (TRX), Malaysia's coming financial district.

In a statement today, TRX City, the master developer of TRX, said the agreement sealed with MRT Corp allowed the latter to become the developer and asset owner of the Klang Valley mass rapid transit system.

"MRT Corp has the right to develop an underground station and railway tunnel on TRX land.

“At the same time, TRX City retains the right to develop the above-ground section," it said.

On the deal, TRX City Chief Executive Officer, Datuk Azmar Talib, said the partnership allowed MRT to bring the lines into TRX without having to purchase the plot.

"It also allows us to keep the development rights of the highly strategic location and capitalise on the expected future upside," he said.

TRX MRT station, already operational since July, is seamlessly integrated with the financial district from its location fronting Jalan Tun Razak, next to TRX’s financial quarter.

On the agreement with SMART, TRX City said, it involved the swapping of land and the relocation of SMART’s maintenance depot to a new location within TRX.

It said TRX would have a direct access to the SMART, providing it with unrivalled road connectivity to Greater Kuala Lumpur’s southern corridor that included areas like Cheras, Seri Kembangan and Sungai Besi.

"The partnership with SMART paves the way for more win-win collaborations with other government-owned infrastructure players in the future," Azmar said.

-- BERNAMA